Where are the affordable homes?

Affordable homes in the Inland Empire /Riverside County, finding one can be a daunting task! With home prices soaring over the last 5-6 years and only now beginning to level off (even decline in some areas) where does the first time home buyer start looking? Good question, and here are some great answers;

-Lake Elsinore
This small town, population of approx. 40,000 people, is one of the most affordable cities in the Inland Empire / Riverside County. Lake Elsinore has seen an increase in home values, but the city's values did not skyrocket like the surrounding communities of Temecula, Murrieta, and Corona. Since the climb was slower in home prices, the decline will also be slower. Lake Elsinore's position, right smack dab in the middle of progress on the I-15 corridor, make this an ideal buy for first time home buyers. With the added value of lake view properties at reasonable prices and easy access to the Lake itself, this city has appeal to young home buyers. One consideration any potential homeowner needs to make is future value. Consider the location of Lake Elsinore, approximately 75 minutes to San Diego and Los Angeles, and with easy access to CA Hwy-74 you can reach the city of Orange in about 50 minutes. Talk about location, location, location! Lake Elsinore is my personal specialty, and if you are looking for a home here, be sure and give me a call so I can personally introduce you to the two top agents in the City.

-Hemet
This sleepy city has grown leaps and bounds over the past 5-6 years. Hemet has most anything a first time home owner would need. Home improvement, discount mega-stores, etc... In addition to the local stores, Hemet has seen large new home growth. Homes are still affordable in the city and the streets are quite. Home to a large senior population, with many senior only mobile home parks, home prices vary, sometimes drastically, from street to street it seems. This can cause problems when negotiating financing on a home, but you have nothing to worry about because you have a great lender in your corner, Me! Just kidding, but you should know that whomever you work with is knowledgeable of the market and the surrounding area. Someone local, not in some other state, or country sometimes! Feel free to contact me and my time for many 100% financing options, even up to 95% financing on mobile/manufactured homes!

-Sun City
Another sleepy, but very affordable housing city. According to the 2000 census, Sun City had a population of approximately 17,000 people. This is a, primarily, senior community with a growing population of first time home buyers and those looking for affordable housing. The city has grown quite a bit over the last few years, but still has a way to go.



-Wrap-up
These are few of the affordable cities in the Inland Empire / Riverside County, For more information on affordable homes, interest rates, loans, credit, or home values in Lake Elsinore, Hemet, or Sun City please contact me, Adam Clarke, at (951) 318-1162. The Clarke Team specializes in mortgage loans for purchases and refinances in the Inland Empire / Riverside County including Lake Elsinore, Hemet, or Sun City. If you are looking for real estate related services including your home's value, listing your home for sale, purchasing a home, or anything else real estate related contact us for a referral to the best real estate agents in the industry. You can save money, time, and hassle by working with professional mortgage brokers and real estate agents.

This month we celebrate our independence. Wouldn’t this be the perfect time to cast off the bonds of mortgage debt?

Here are a few of my favorite ways to lower your mortgage balance quickly and effectively!

Pay Off Sooner by Paying Sooner- Bi-weekly mortgage payments have become very popular as a way to pay off your mortgage faster. You would make a mortgage payment every two weeks instead of once per month. This is very simple since you can do it yourself and it takes very little effort. Your extra payment will apply directly to principal, thus paying your mortgage off quickly.

Decrease Your Mortgage Term- You could elect to refinance and change your 30-year mortgage to a 25, 20, or even 15-year mortgage. Bear in mind though, that your monthly payments will be considerably higher. Generally speaking, a shorter term will offer substantially better interest rates. Your payments go up, but more of your money goes to your principal balance.

Home Ownership Accelerator- This program is for those who like simplicity. You roll your entire mortgage into a Home Equity Line of Credit, or “HELoC”. You would deposit your paycheck into the account and pay your bills out of the HELoC, no need for a checking account! You would keep your daily balance low by depositing your check and the amount you would save in interest would be in the tens of thousands. In addition to that, the extra money you don’t spend is applied directly to the principal without you even realizing it. The downside though is that the loan does not have a fixed interest rate and is completely at the mercy of the market. For those looking for a more stable product, see below

“The Fastest Way to ZERO”- The Money Merge Account is an incredible vehicle that was designed to take your entire financial situation and calculate the fastest way to ZERO on your mortgage. This is a software program that accompanies your current loan in conjunction with a HELoC that can help you pay your mortgage off in as little as 8 years. This revolutionary program actually cancels interest! This is by far my favorite way to pay down your mortgage quickly and safely. It takes the best features from the Home Ownership Accelerator and adds the safety and stability of the loan you already have. The best part is that you don’t have to refinance to take advantage of it. There is also a referral program offered by the software manufacturer where you could make money by saving your friends and family thousands! Call for details.

For more information on how you can save thousands in interest, see www.ProLoanBroker.com or call Adam @ 951.318.1162